As a Los Angeles real estate agent, I am typically asked how’s my local real estate market? Let’s dissect La Crescenta home sales January 2020: Below we compare January 2020 to January 2019:
La Crescenta real estate values continue to escalate. Highly desirable schools are a major factor in La Crescenta’s popularity. The average selling price increased year over year. The median price soared by more than $100,000. The median price indicates half of La Crescenta homes sales are over $892,000 and half are under. Homes sited in the 91214 zip code are among the most sought after in Los Angeles, as evidenced by the unbelievably low absorption rate.
Most La Crescenta homes are selling over asking price. Just one of these fifteen La Crescenta home sales had price reductions prior to selling. Two homes took more than 100 days to sell – 112 – 140 days on market. Both of these were sited below Foothill (and one with a price reduction).
Housing shortages abound in markets across the country and that could set home shoppers up for a challenging spring. The nation’s housing supply saw the steepest year-over-year decrease in January in more than four years, dropping 13.6% annually, realtor.com® reports. The supply for homes for sale is now at its lowest level since realtor.com® began tracking such data in 2012. The housing shortage shows no signs of easing in the coming months either, realtor.com® says. The volume of newly listed properties is down by 10.6% since last year.
First time buyers continue to fuel the La Crescenta real estate market. From Core Logic: Homeownership Rate Jumps as Millennials Step Up Buying